Specifications include, but are not limited to: A. The Contractor shall propose, implement, and administer a benefit design that matches or exceeds the current benefits design.; B. The Contractor shall provide a similar lowest net-cost focused formulary with drug exclusions that allows prior authorization for medical necessity and does not cover high-cost and low value drugs.; C. The Contractor shall sign and adhere to all requirements contained in the Business Associate Agreement (BAA).; D. The Contractor shall maintain professional liability (errors and omissions) insurance and general liability insurance in amounts reasonable and customary for the nature and scope of PBM services. The Contractor shall provide evidence of such insurance upon EBD’s request.; E. The Contractor shall maintain all licenses necessary to do business in the State of Arkansas and to perform the services required under a resulting contract.; F. The Contractor shall accept liability for any mistakes, errors, or omissions it makes in providing services to EBD and its members.; G. The Contractor shall notify EBD immediately upon identification of significant issues that cause member and/or provider disruption.; H. The Contractor shall not render or administer services offshore, and all work performed by the Contractor and its sub-contractors under a resulting contract must occur within the contiguous United States.; I. The Contractor shall notify EBD within thirty (30) days after purchase, acquisition, and all other changes in ownership, partners, or control affecting 10% or greater interest; any acquisition by it of 10% or greater interest in any subsidiary; and any new agreement with, by, or between any affiliates that is relevant to the contract.; J. The Contractor shall be responsible for payment of any fines levied against EBD by CMS because of an action or omission by the Contractor that incurred the citation.; K. The Contractor shall maintain fidelity and surety insurance or bond coverage to protect EBD in the event of a loss.; L. The Contractor shall maintain processes to prevent and detect internal and external fraud and fraudulent practices that must include screening for potential fraud and systematically review provider claims.; 1. The Contractor shall report all fraud findings and relevant corrective measures to EBD.; M. The Contractor shall keep all EBD information disclosed during the proposal and contract term strictly confidential unless disclosure is required by law.; N. The Contractor shall submit All-Payer Claims Database (APCD) reporting to the state of Arkansas on behalf of the Plan in accordance with Arkansas law and APCD format and frequency requirements. The Plan is a “submitting entity” for the purpose of such APCD reporting and the Contractor will report such information as the vendor of the Plan. The Contractor will not be acting as the “submitting entity” for the purposes of APCD.
